Venezuela: Will Willie’s Wonky Chocolate Factory be expropriated?
By Alek Boyd
28.04.08 | You bet. It has happened before and it will happen again. Vestey's farms in Venezuela were once raided by the army after Chavez declared war against latifundistas. Afterwards Chavez paid Vestey off. Now, residents of Choroní, near Chuao where Chavez conducted his weekly talk-a-thon yesterday, allegedly accused William Harcourt-Cooze, of famous Willie’s Wonky Chocolate Factory, of underpaying and exploiting them. The former coupster has already ordered an 'investigation.'
The problem for Willy is that Chavez is short of money and has taken a rather aggressive approach to nationalizations. Ask Argentine steel producer Ternium.
Foreign investors currently operating in Venezuela should hedge themselves against risk, join Exxon and file a class action against Hugo Chavez.
Harcourt-Cooze would be well advised in asking Chavez's man in London -Ken Livingstone- to help salvage his investments in Venezuela. UK chocolate lovers will undoubtedly appreciate efforts in that respect and could even re-elect the terrorist-friendly Mayor.
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